BitKan, China-based crypto startup raises $10 million

BitKan is a cryptocurrency startup located in the southern region of Shenzhen China. They recently announced the successful capital raise of $10 million for their cryptocurrency focused firm. Investors included Zhongyunhui Capital, IDG Capital and Bitmain, the large bitcoin mining firm. BitKan will use the capital to expand their business, build a new data platform and open additional offices. They are looking find new ways to grow profits after the Chinese government banned bitcoin trading platforms last year. It is great to see successful capital raises focused on cryptocurrency located in China. Even though a lot of cryptocurrency services are banned in China, we expect to see some great projects and ICOs targeting the Chinese public to be launched later this year.